5 Things That Drive Profitable Lending Operations

Documents are one of the more important features of the Mortgage Cadence platform. Produced in real time, exactly when needed during the mortgage process, your documents are dynamically created within the loan record from data and calculations native to the platform. No data export necessary and no outside system to call upon. Loan Estimates, Closing Disclosures and Closing Documents are produced with the push of a button. Delivery is simple with eSign and eClose functionality. Our Document feature is one crucial way in which loan Velocity is accelerated, especially by high performance lenders.

Imaging is another Velocity and Pull-Through enhancing feature of the Mortgage Cadence platform. Nobody enjoys the onerous task of collecting and organizing all the documents necessary to create a loan. Imaging simplifies this process immensely. Lenders make the request through our borrower portal, ENGAGE, so that borrowers easily upload documents using our imaging features. Once uploaded, the imaging system recognizes documents, stacks them as instructed for fast and efficient review, and lets the mortgage team know what’s missing. A difficult task made easy!

Our Services feature set creates remarkable efficiencies that add to staff productivity. Like all platform features, services are innate to the system. Orders are dispatched from and returned to the loan file itself. Once received, the data from service orders populate fields within the platform and drive workflow. The document portion of the order is readily available for use by the mortgage team, eliminating the need to reference other systems. Our Services feature brings a high-level of automation to this important function, reducing staff time and administrative burdens and increasing productivity.

Fall-out, the opposite side of the Pull-Through coin, is a pernicious mortgage industry problem because 49% of all borrowers apply with more than one lender. As a result, one out of every two applications becomes a closed loan. High performance lenders are increasing their chances of closing applications with third-party lead management systems. These systems help your teams stay in touch with applicants throughout the mortgage process by leveraging automation. The result: these high performance lenders have seen their one in two chance increase to nine in ten. Who wouldn’t want to improve their Pull-Through rate from 50% to 90%? The benefits are obvious: lenders only get paid when loans close. Lead generation and management systems increase the odds of getting paid.

Gaining market share is top of mind for every high performing lender. With the evaporation of refinance lending and the switch to a never-before-seen, long-term majority purchase market, lenders must focus on gaining share to increase Productivity and profitability. Third-party social media-based target marketing technologies go beyond traditional awareness advertising. They help you find the homebuyer before the homebuyer takes the all-critical step of applying for a mortgage, helping you put your mortgage program in front of them at just the right time. These target marketing technologies do not take the place of traditional marketing methods. They are, however, an essential augmentation to current awareness practices. The cost? Minimal. The results? Game changing.

Let's talk about all the ways you can become an extraordinary lending team.